Jeff that is an extremely important question you have just raised which is on top of everyone’s list both on the corporate end as well as the individual’s. Americans  have lost trust in the financial arena and we all understand why. This is a question we need to always ask ourselves before we make any type of investment decision. It is YOUR responsibility to do your due diligence (investigation) on the company or person. Ask a lot of questions. For example here are some good questions to ask: What are my risks involved personally? What is the process of protecting my money? Where will my funds be held? Where is my funds being invested? And check the company history as well – with references and business bureau. What bank do you use, if any, to hold my cash? If you go under, how am I protected and for how much? Is there a maximum of what you cover?  If you FEEL comfortable with the answers and you have done your background check on the company and the people running it, then after that is to base your decision on your gut feeling.  Another option along with this is to put a small amount of $ and see how they manage it.  Once you feel confident about them, then add more. (I have done that).

I just covered this topic in my Voices of Wisdom.  I guess the best I can liken it is if you were to do renovations in your home would you give your money to any person that walked off the street? You may interview two or three people to see if there is a right fit for you and your family. First, this person will be coming into your personal space and you need to trust them.  You also want to make sure that they do what they say they will do.  References from family and friends that you trust are always helpful. Just keep in mind that your family/friend’s needs may be different.

ASK QUESTIONS and make sure that you like the answers. If you feel that this person is being vague or you are getting a feeling in the pit of your stomach then I say — TRUST this feeling for it will lead you in the right direction.

When you are hiring someone to do something for you, you assume that they know a little more than you or you will not give them your business. Saying that, we are all equal and you want to make sure that this person treats you with the respect you deserve, is accessible once you give them them the business and is open to further questions or concerns. IN NO WAY IS THIS PERSON BETTER OR WORSE THAN YOU AND NEVER LET THEM MAKE YOU FEEL THAT WAY.

I have fired people, lawyers, accountants, financial people for different reasons – sometimes our views went in different directions or I felt I outgrew this person – whatever the reason is when it comes to our life – finances, health, famiy relationships, etc. YOU ARE IN CHARGE.

All my best,

Sandra & Maritza



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